Retail News

Levi’s to start company owned stores
July 12, 2017

Levi’s is planning to open company owned stores and launch its e-commerce platform to reach deeper in India. The company had around 150 franchisee partners, who operated one or two stores each. Currently, it has 22 franchisee partners, each of whom operates a larger number of stores. This has helped channelise more investment into the brand. Currently, for one pair of jeans, Levi’s sells three tops globally and Bergh wants to reduce that number. In India, however, the ratio is 1:1 for the clothing company. While globally Levi’s has been reporting consecutive years of revenue and profit growth and slashed its debt by more than half, in India, it turned profitable in 2014 after nearly two decades of lull. It reported a net profit of around Rs 79 crore in 2015-16, up 64% over the previous year with sales growing at 18.5% to Rs 753 crore.